In September, fuel prices once again drove prices upwards, causing inflation to spike by six tenths, bringing the Consumer Price Index (CPI) to 4.9%, a level not seen since early 2023, according to preliminary data from the National Statistics Institute (INE).
As explained, this behaviour is influenced by the prices of fuels and lubricants for personal vehicles, which have risen, while in September 2025 they fell. Also, tourist packages have seen prices decrease less than in the same month last year.
In detail, the special groups with the highest price increases were energy products, up 21.6%, unprocessed food, up 5.8%, services, up 3.9%, and industrial goods excluding energy, up 2%.
"The main cause is the increase in fuel prices, a consequence of the ongoing energy shock resulting from the war in Iran. Additionally, there is a base effect, because fuel prices fell in September 2025," officials from the Ministry of Economy, Trade and Business commented.
They highlighted that, "since the start of the war, the Government has already approved two packages of measures from the Response Plan."
This Tuesday, the Council of Ministers approved a new package. To shape it, the Government has met for three weeks with social agents and affected sectors.
In month-on-month terms, prices recorded a rise of 0.3% compared to August. This is the largest increase in a September since 2021.
Regarding the underlying inflation rate, that is, the general index excluding unprocessed food and energy products, it increases by two tenths, to 3.1%. This is the highest rate since March 2024.
On the other hand, the Harmonised Consumer Price Index (HICP) rises by four tenths, to 5%. The annual rate of underlying inflation of the HICP stands at 3.2%.
The final data for September's inflation will be published by the INE on 14 October.